One key ? Another new DC

I could have crammed all this into one thread - but .. ( added a comment on 'sampler rate' for PE that could be OK to PE thread ) -- what else is new in DC's ??

found this new concept -- no major fee to join

http://www.onekeyworld.com/

But it must be too hot out -I can't see much merit - 15 nights usage for $35,000 approx annual fees and NO major initiation fee. 35k /15 = $2333/night

Since they 'approve' and then rent from others -- be curious on what their value added adds to the cost.

Haven't been to helium lately -so when they said this club started in 2006 - hmm .. I don't remember it been posted - has it been that long?

Regards
Greg H

its not a DC, its a fractional card for villa rentals, and they seem to be able to get discounts of up to ~50% off. you buy 15-25 nights at one property.

they charge ~$2K per night, flat. but some of the properties like Four Seasons Las Vegas Presidential Suite actually run $5K per night if you booked direct.

considering the price of some of the hotel suites / villas id like to rent at some point in the future, onekey might be a good way for me to do so at a discount / get two weeks for the price of one, etc.

but its only when you are booking a few week stay, or are locking into a nearby weekend home you can drive to, for example.

GregGH said:

I could have crammed all this into one thread - but .. ( added a comment on 'sampler rate' for PE that could be OK to PE thread ) -- what else is new in DC's ??

found this new concept -- no major fee to join

http://www.onekeyworld.com/

But it must be too hot out -I can't see much merit - 15 nights usage for $35,000 approx annual fees and NO major initiation fee. 35k /15 = $2333/night

Since they 'approve' and then rent from others -- be curious on what their value added adds to the cost.

Haven't been to helium lately -so when they said this club started in 2006 - hmm .. I don't remember it been posted - has it been that long?

Regards
Greg H

Click to expand...

Finally got a chance to look at One Key - this is great!

Why risk hundreds of thousands of dollars - just buy the number of days you need and pre-pay your vacations! This will be something to watch!

With the real estate market "soft" right now this is an excellent time for a company to sign up condo owners who must make those "Interest Only" loans and wait for the market to heat up again. These folks have it right; lease a $2 M condo for less than the mortgage payments (probably).

Additionally, high demand holiday weeks are a 2-for-1 deal and they should also have a 1-for-2 offer in off season usage.

This company could take advantage of the DC industry's desire for secrecy - make it really clear - NO deposit, only buy the number of days you need to vacation.
Great idea!

but you have to pay $2000-$4600/nt, and you lock in at one residence for a minimum of 15 nights. (7.5 peak)

so while it CAN be a great deal, there is no flexibility (after buy in), and it is a higher price point.

the real question is how do they negotiate the discounts? (and therefore where else can you get 50% off etc)

OTOH i definitely agree it is a more appealing concept than Villazzo, which adds services to a rental, as opposed to a discount. their 1 night rates range from $2K - $15.7K plus Villazzo has a portfolio whereas onekeyworld appears to be able to source whatever you want.

Kagehitokiri said:

but you have to pay $2000-$4600/nt, and you lock in at one residence for a minimum of 15 nights. (7.5 peak)

so while it CAN be a great deal, there is no flexibility, and it is a higher price point.

the real question is how do they negotiate the discounts? (and therefore where else can you get 50% off etc)

Click to expand...

The reading I get is that it's a club with access to many residences - you "rent" 1 day for 1 day of membership with 2 days needed for 1 day during holiday times.

I've not checked into the quality and worth of the residences they lease - I'm assuming $2 M from the pictures at a minimum.

This concept could be used for any price point - say $750 a night.

i believe on one page of the site they make it pretty clear that youre buying in to a single property. ill take another look.

ah, i see what you mean about the concept. i was just talking about them specifically.

These folks can just go thru VRBO and lease 1 year residences starting 3 months from now and do this over and over again. Who wouldn't want to lease their VRBO for an entire year once in a while?

There are many many bargains on VRBO all the time - folks are desperate to get mortgage assistance.

AND I like the fact that ANYONE can stay during your usage - relatives, business associates, heck even renters.

ok just confirmed you do NOT lock in to 1 home. ^ sorry for my confusion.

definitely very interesting, hopefully they have a good business plan and stick around

This is a more scaled back version of using $2 M condos and homes.

The mortgage on $2 M is $13,300 per month or $160k per year. Divide that by 365 days and that's $440 per night. Double that and you get about $1k per night rental which generates about $200k profit per condo per year to the founders.

That $1k per night and $2k per night for a holiday now become reasonable figures when compared to the DC universe - only 3 DC's would be cheaper and HCC is not in the $2 M club.

Don't need $2 M condo, a $1 M condo now becomes $500 per night and beats everyone but HCC and you don't need to put up a deposit and worry about it.

I hope this rental model becomes popular.

dont forget some clubs offer unlimited space available travel at no additional cost.

and exclusive resorts for example has some units that have rental values of up to and above ~$6K, which if you get them for ~$1K or less (annually), thats a pretty good deal. (85% off) (or it becomes one after a few years)

banyan tree private collection is another, IIRC the seychelles 2BR is $7K a night over XMAS/NYE, or $49K/wk. you'd get a stay worth $45K at Madivaru in the same time frame. the cost of membership is $120K down and $3K a year for 1 week use. (95% off) making it profitable very fast depending on usage restrictions if there are any.

its all about how you use whatever youre buying.

One Key Availability and Reservations

I'm confused by these statements on the One Key website:

"You can call for your home as soon as "As Available" is indicated in the Members Only section of the website, 30 days in advance during standard travel weeks or 180 days in advance during peak travel periods."

"Nights are debited on a 1-to-1 basis all but 10 weeks per year, per location, which are designated peak travel weeks. Because these weeks are highly coveted One Key will debit 2 nights from your account for each night of your stay."

Does this mean that travel is for last-minute type inventory (30 days or less) except for 10 weeks per year (assuming these are "Holiday" type weeks) when you can book 180 days out (but only half as many nights)? If so, wouldn't this be a high-end "Last Call" type of booking, except with a front-end payment?

Also, has anyone viewed the actual One Key reservation system to see what types of actual homes and time frames are available?

i read it as - book at least 30 days out, unless peak then at least 180 days out.

one of their st barts properties is villa claridge. they also have perots island in bermuda. those 2 dont seem to have that great a savings. (depends on peak season)

dont like bumping, but this is a good article with more good info >

http://www.sherpareport.com/destination-clubs/one-key-jap-sapovits.html

When making reservations members can reserve as little as 30 days ahead for normal vacations but need to book 180 days in advance for the holiday/peak times. The minimum reservation varies from 1 night to 7 nights and for instance is usually 7 nights for periods such as Christmas, Easter, and New Year.

The 25 current members have already completed 20 vacations through the club.

Comparisons
One Key operates something like a fractional card for vacation homes. While it certainly competes with the other destination clubs it also overlaps with the luxurious villa rental companies such as:
- Villazzo which has luxurious villas in Spain, France, Mexico and the USA with rates from $2k to $20k per night.
- Abercrombie & Kent which offers villas in Europe.
- Luxury Retreats has a wide selection of homes in the USA, Caribbean and Europe.

Click to expand...

Very expensive!!!

This club is VERY expensive on a "cost-per-night" basis. In fact, I would say that it is the MOST expensive club like this I have ever seen.

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The club has two membership plans:

- 15 nights for $34,900 = $2,326 per night
- 25 nights for $49,900 = $1,996 per night

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For 10 holiday/peak weeks a year nights are charged to a members account on a 2 for 1 basis, for instance if you want to stay at a home for 7 nights over Christmas, you will have 14 nights charged to your membership account.

- 15 nights (7.5 holiday nights) for $34,900 = $4,652 per night (for holidays)
- 25 nights (12.5 holiday nights) for $49,900 = $3,992 per night (for holidays)

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The 25 current members have already completed 20 vacations through the club.

This is not a "long" track record....how about low introductory prices first and then raising them with new members?

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ok lets compare the holiday week at a round number of $4,500 per night and compare that to renting on your own.....hmmm.....I will pass on joining this club. There may be some people that can afford $4,500 per night, but they will probably NOT want to be limited to the offereings of one club.

I can't believe what I am going to say, but "this club makes Exclusive Resorts look cheap"

I think I will stick with High Country Club and my $300-350 per night average cost and be happy.

I think this club fits the defination of "irrational vacation exuberance"

if youre interested in $5K/night properties, and can get them for $2K/night, whats irrational about that?

http://tugbbs.com/forums/showpost.php?p=361506&postcount=10 - its all about how you use whatever club it is youre joining

onekey can also negotiate to add SPECIFIC properties you request, in order for you to get a discount etc

as far as ive seen, you can do better than many of HCC's properties if you just rent a villa yourself. only when you use the unlimited space available travel benefit does cost per night REALLY drop to basically nothing.

Kagehitokiri said:

if youre interested in $5K/night properties, and can get them for $2K/night, whats irrational about that?

http://tugbbs.com/forums/showpost.php?p=361506&postcount=10 - its all about how you use whatever club it is youre joining

onekey can also negotiate to add SPECIFIC properties you request, in order for you to get a discount etc

as far as ive seen, you can do better than many of HCC's properties if you just rent a villa yourself. only when you use the unlimited space available travel benefit does cost per night REALLY drop to basically nothing.

Click to expand...

You really need to privide references or proof to your above quote.

One Key is RENTING $2,000-4,500 per night properties that "may" be worth $4,000-$9,000 per night based upon market rates. I am not judging anyone that may want to pay these rates as a 50% discount is a good deal no matter what matrix you use.

As a HCC member and someone who has compared apples to apples, HCC membership provides tremendous savings vs renting a similar unit. I have done this comparison for about 10 of their properties.

I was in Turks and Caicos in June and stayed in an HCC unti for about $300 per night and the rental rate for that was about $800 per night (non-holiday). I could stay there over Christmas for the same $300 per night, but the rental rate would be around $1,200 per night. Just try to book Deer Valley or NYC for cheaper.

HCC is the best "value" destination club in my own opinion. ER is the largest, UR is rapidly expanding, Quintesse has great properties, and BH offers a potential real estate appreciation factor. These are the DC I am familiar with.

I think the OneKey concept is fantastic, they just need a less expensive option for $1-2m properties

i clearly stated my "proof" in posts 2, 10, 12. the ER properties i was referring to include Little Dix Bay, Regent Palms Turks & Caicos, Raffles Canouan.

im not arguing HCC NEVER has better value, i said as far ive seen, there are MANY times you can do better, and then not necessarily from a price standpoint, but from a value standpoint. your point of taking season into account is a also very good one, as i believe my comparisons were all low season.

i also agree with you and perry that the onekey model is very interesting, and wonder if others will use it for properties with somewhat lesser values.

im personally watching DHH, worldwide private residences LP, lusso collection, and ciel.

IMHO those seem to stand out in their respective price ranges, but i think for all of them, their competitive status really depends on how they grow their portfolios. in other words they all seem to have started well, and lusso and ciel have a fair number of members/properties, but i wonder how closely theyll follow their planned future locations, etc.

HCC having unlimited space available use for that price is a darn good benefit, but OTOH i do question SOME of their property choices, and ive noticed some others here who are members do as well.

I have a dream....

I’m 60 now and looking forward to the Platinum years (forget gold).

One of my dreams for the past 20 years is to buy a condo somewhere and turn it over to a club and each month we get to move to a new condo – do this every month.

I own my condo and use it as a “Membership fee” into a club with similar condos. Using a Point system much flexibility could be added in terms of much more expensive condos and cheaper ones.

There are MFs of course but NO upkeep of the units on the owners part.

I like this dream……

dont like bumping, but noticed this..

http://www.onekeyworld.com/content63.html
=
http://www.cometocabo.com/Villa_Amanda.asp
5BR as opposed to solstice's 4BR

can save ~$1K/nt through one key